Consumer Law

Automatic Teller Machines (ATMs) and the Law

Should you save the receipts of each transaction?

Ideally, you should keep them until you reconcile your account balance with the monthly bank statement. The idea is to ensure that the bank got as much of a deposit as you thought you put in, and that it doesn't claim a larger withdrawal than you thought you took out. Bank computer errors are quite rare, but they have happened. Don't count on anyone else to catch them.

But once you have done the reconciliation, there's no reason to keep the slips, which are hard to store and can become quite voluminous. The bank's confirming statement is good enough proof in case a dispute comes up later.